Quick overview

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JPMorgan Chase has emerged as the world’s leading technology investment bank, overtaking Goldman Sachs in Wall Street rankings thanks to a strategy centered on backing startups from their earliest stages and growing alongside them as they evolve into multibillion-dollar companies.

The U.S. banking giant strengthened its position during the first quarter of the year, driven by strong activity in IPOs, mergers and acquisitions, debt issuance, and financing for technology and innovation-focused companies. One example of the model behind JPMorgan’s rise is Pattern, an e-commerce company founded in Utah.

Back in 2017, when Pattern was seeking just $10 million in financing, JPMorgan sent a team to personally visit the startup, which at the time operated out of a warehouse with makeshift desks. Years later, the company grew from generating $100 million in annual revenue to $2.5 billion and selected JPMorgan as the sole placement agent in a $225 million Series B funding round in 2021. The bank later also participated in Pattern’s IPO last September, a transaction that raised $300 million and valued the company at roughly $2.5 billion.

“We are building something different — a platform that supports founders from the earliest days and throughout the entire corporate lifecycle,” said Andrew Kresse, co-head of JPMorgan’s Innovation Economy division.

How JPMorgan gained ground in tech banking

The bank formally launched this strategy about a decade ago through its “Innovation Economy” division, designed specifically for high-growth startups backed by venture capital in sectors such as technology and healthcare.

The collapse of Silicon Valley Bank in 2023 accelerated that expansion even further. JPMorgan capitalized on the downfall of the lender historically tied to the startup ecosystem by attracting new clients and recruiting specialized technology bankers.

Today, JPMorgan employs more than 550 bankers focused exclusively on innovation companies worldwide, including 200 hires added since 2023. The bank now works with more than 11,000 startups and high-growth firms across 40 countries.

In the first quarter of 2026 alone, technology-related business accounted for 22% of JPMorgan’s $3.2 billion in investment banking revenue, making it the institution’s most profitable segment.

According to LSEG data, JPMorgan reached a 16.7% share of global technology investment banking fees, surpassing Goldman Sachs in the overall rankings. Goldman, however, retained its leadership position in technology mergers and acquisitions by transaction volume.